Re: [CANSLIM] Worley's Weekend Weeview

From: "Bill Triffet" <btriffet@earthlink.net>
Subject: Re: [CANSLIM] Worley's Weekend Weeview
Date: Sat, 13 Jul 2002 16:27:41 -0700

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Top of Thread: [CANSLIM] Worley's Weekend Weeview "Tom Worley"
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Here in Los Angeles county, the unemployment rate just hit a 5 year high of
7.1%. California has 29,000 fewer payroll jobs than it did a year ago.
Statewide they unemployment rate rose to 6.4% - up from 5.2% a year ago.

In the Bay area (covering the Silicon Valley) the unemployment rate is at
7.6%. Note: the jobless rate a year prior was only 1.7%!

I was just reading today in the LA Times that losses in manufacturing jobs
were offset by gains in the retail, construction, and government sectors. I
can't see a real growing economy based on those sectors growth. It's no
surprise auto sales are down.

Hopefully next year will turn around but I don't see anything soon.

- -Bill

- ----- Original Message -----
From: "Tom Worley" <stkguru@bellsouth.net>
To: "CANSLIM" <canslim@lists.xmission.com>
Sent: Saturday, July 13, 2002 9:50 AM
Subject: [CANSLIM] Worley's Weekend Weeview


ECONOMICS
Wholesale inventories rose 0.1%, first rise in a year and above expectations
of a 0.2% decline, as sales fell. Sales of cars and non-durable goods were
the biggest culprits.

Goldman Sachs now expects the first hike in Fed rates won't occur until the
second half of 2003, a big shift from their earlier forecast of Nov 2002.

New unemployment claims spiked 16,000 to over 400K, up to 403,000 and above
expectations of 390,000. The 4 week moving average rose to 395K from 393K.

PPI (Producer Price Index) also exceeded expectations, rising 0.1% overall
and 0.2% on the core rate, both a tenth of a percent higher than
expectations.

University of Michigan's Consumer Sentiment Index fell sharply to 86.5 from
92.4 despite expectations for a rise to 93. the "expectations" component
also fell sharply to 78.5 from 87.9. However, June retail sales rose more
than expected, up 1.1% against expectations of 0.7%. Without cars, retail
sales were only up 0.4% and a rise of 0.5% on the core rate was expected. Go
figure.



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